Exhibit 99.1
 
AeroGrow Reports Results for the Fourth Quarter and Full Year Ended March 31, 2016

·
Fourth Quarter sales increase 43% to $5.1 million
·
Full Year sales increase 10% to $19.6 million
·
Fourth Quarter Adjusted EBITDA improves by $649,000
·
Full Year Adjusted EBITDA positive for second consecutive year
·
Full Year gross margin improves by nearly 500 basis points to 36%

BOULDER, CO—(Marketwired – June 15, 2016) – AeroGrow International, Inc. (OTCQB: AERO) ("AeroGrow" or the "Company"), today announced results for the fourth quarter and Fiscal Year (FY) ended March 31, 2016.  AeroGrow is the manufacturer and distributor of the world’s leading indoor gardening systems – the AeroGarden line of Smart Countertop Gardens®.

For the year ended March 31, 2016 the Company recorded total revenue of $19.6 million, an increase of 10% over the same period in the prior year.  Adjusted EBITDA for the full year remained positive for a second consecutive year at $304,000 vs. $609,000 in the prior year period.  Results for the 4th quarter ended March 31, 2016 saw net revenue increase 43% year over year to $5.1 million and Adjusted EBITDA for the quarter improved $649,000 to $182,000.
President and CEO J. Michael Wolfe commented that “our core strategy for FY 2016 was to moderate our growth to ensure we achieved strong improvements to our gross margins and refine our distribution strategy.  We grew revenue by 10% last year, with accelerated growth in the second half of the year including 43% growth in our Q4.  I’m particularly pleased by the improvement we experienced in our gross margin, which increased by nearly 500 basis points to 36% for the full year.
“Increased margins were the catalyst in our executing a significant brand advertising campaign that debuted in November.  We were pleased with the results of this campaign which drove gains in awareness and purchase consideration among target consumers.  While putting some downward pressure on EBITDA this year, it also helped drive short term sales, and we expect a long term revenue tail from the increased brand awareness.  In addition, we are committed to this brand building initiative for the long-term and anticipate making significant increases in our advertising spend in FY 2017.
The advertising spend, combined with new and improved products, helped us continue to build several proven distribution channels – and unlocked several new ones.  For the first time we now have multiple, proven channels through which to sell our products profitably.  We saw broad success in the .com channel where Amazon saw better than triple digit growth across the platform.  We also made significant inroads in the Housewares channel with successful tests at Bed Bath & Beyond, Sur La Table and QVC.  These strong sales results, combined with the gross margin improvements and continued expense controls resulted in our second consecutive year of positive EBITDA earnings – the first time in the company’s history this has been achieved.
“We begin our FY 2017 with a lot of momentum.  We’ve made great progress on a number of fronts, notably sales, profitability, product efficacy, gross margins, and brand building.  Our focus for FY 2017 will be to continue growing our established distribution channels while expanding the Housewares channel and launching preliminary tests in several new domestic channels.  We’ll also be expanding an international sales model in Europe that is showing encouraging early results.  I am extremely optimistic that in FY 2017 we will leverage the excellent progress we have made over the last several years to begin delivering consistently strong top and bottom line growth.”
On June 2nd, Scotts Miracle-Gro informed the Company of its intention to exercise all or some of its Warrants sometime prior to December 31, 2016.  The Company has no further information on the timing or exercise of the Warrants other than as set forth in the Schedule 13D/A filed by SMG Growing Media, Inc. on June 6, 2016. The Board of Directors has appointed a Special Committee of the Board comprised of Michael Barish, Jack Walker and Wayne Harding to supervise the implementation of the exercise, if and when it happens.

The following information was filed by Aerogrow International, Inc. (AERO) on Wednesday, June 15, 2016 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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